Sensex rises 323 points on strong Asian cues

MUMBAI: Stock indices ended up 1 per cent on Friday, with the Nifty rising the most in a month on strong cues from Asian markets. With Friday’s gains, indices managed to eke out gains for the week. Both indices closed at a oneweek high.The Sensex ended up 322.65 points or 0.95 per cent at 34,142.15 and the Nifty ended up 108.35 points or 1.04 per cent at 10,491.05. The volatility index India VIX declined for the third day, ending down 4.2 per cent at 14.20.The broader market outperformed, with the BSE MidCap index rising 1.47 per cent to 16,562.03 and the BSE SmallCap index gaining 1.54 per cent to end at 17,996.22.Most Asian indices gained on Friday after bond yields in the US fell from their multi-year highs, which helped ease concerns over higher rates and inflation.Despite Friday’s gains, market participants believe that the trend in the near-term is likely to remain weak. Indices are still down for the month, with the Sensex down 5.1 per cent and the Nifty down 4.9 per cent so far in February.The slide this month has come on the back of concerns over rising bond yields in the US, re-introduction of long term capital gains tax on equity in India and the surfacing of the Rs 11,400 crore fraud at the Punjab National Bank.“We are still in a corrective phase,” said Raamdeo Agrawal, joint managing director at Motilal Oswal Financial Services.Agrawal added that he doesn’t see a significant downside from current levels as domestic flows remain strong.“Some of the larger investors, in fact, have used this opportunity to buy more,” said Agrawal.Domestic institutional investors bought shares worth ?1,514.03 crore on Friday, while foreign portfolio investors sold shares worth ?486.32 crore.So far in February, DIIs have bought shares worth ?13,760 crore and FPIs have sold shares worth ?10,120.7 crore.63053109

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MUMBAI: The steady gush of institutional flows into the stock market pushed the Sensex above the psychologically important 30,000-mark briefly for the first time after two years and the Nifty to record highs on Wednesday. Reliance Industries, the HDFC twins, Larsen & Toubro and ITC contributed the maximum to the index's 6,972 point rally since February 29, 2016. RIL contributed the maximum, adding 857 points, followed by HDFC Bank, ITC, HDFC and L&T.

NEW DELHI: It was a week marked by fears of Fed rate hikes resurfacing, mixed inflation numbers and dozens of quarterly earnings. World stocks as suggested by MSCI All Country World Index hit a record high during the week. But selling at higher levels weighed in on domestic benchmark indices, which failed to post big gains despite opening on upbeat notes in four of the five trading sessions. Rising for the fourth straight week, the BSE Sensex could only add 134.50 points, or 0.0.47 per cent, to settle the week at 28,468 on Friday.

Mumbai: Domestic investors drove the markets to record levels on Tuesday , more than picking up the slack as foreign portfolio investors (FPIs) continued their exodus and pointing to the scaling of new highs in coming days and weeks if the trend continues -the Nifty for instance is a few points away from its lifetime maximum. Both key stock indices closed at five-month records, with the Nifty scaling the 8,900-mark for the first time since September. The market capitalisation of companies listed on the BSE touched an all-time high of Rs 1.18 lakh crore.

MUMBAI: The Sensex slumped to its biggest decline in a month after the Reserve Bank of India raised its inflation forecast for January 2016 and the India Meteorological Department cut its monsoon forecast even further, raising fears of a possible drought and leaving little scope for further interest rate cuts. The RBI also lowered its growth estimate for the fiscal year. The benchmark dropped 2.37% to close at 27,188 points. The Nifty fell 2.34% to 8,236, below its 200-day moving average. The BSE midcap and smallcap indices fell more than 2% each.

The market settled the truncated week with steady gains on the back of significant contribution from select index heavyweights including Idea Cellular, Reliance Industries, Axis Bank and BPCL amid firm global cues. During the week, benchmark NSE Nifty index scaled a fresh 52-week high of 8,982.15 on Thursday and closed at over five-month high as F&O expiry witnessed better rolls in the February expiry series. For the week ended February 23, 2017, the 30-share BSE Sensex closed 1.49 per cent, or 424.22 points higher, at 28,892.97. The index was at 28,468.75 on February 17.

MUMBAI: The new-found resilience on Dalal Street may be here to stay, at least for a while. This is what majority of market participants told ET in a poll conducted over the weekend. This optimism is mainly on account of the stronger-than-expected fiscal deficit target announced in the Budget on February 29 that has led to benchmark indices jumping 7% in a week and the rupee rising to a seven-week-high led by a revival in foreign institutional inflows. L&T, Infosys, Hindalco, Hindustan Unilever and ICICI Bank are among the top picks of the poll participants.

MUMBAI: Stock markets slid on Thursday with the Nifty closing below the psychologically crucial 8,000-mark after the US Federal Reserve reiterated the likelihood of a rate hike in December. Jumpy investors and traders cut some of their bullish positions ahead of the Bihar exit polls later on the day, precipitating the decline. The election results will be out on Sunday. Fund managers and brokers said the undertone in the markets on Friday will be nervous as exit polls are indicating a close fight between the National Democratic Alliance (NDA) and the Grand Alliance.

NEW DELHI: The domestic market rallied for the fourth consecutive day on Monday, taking positive cues from other Asian and European markets. The mood across Dalal Street was buoyant throughout the day, as weak US jobs data raised expectations that the US Federal Reserve may further delay the much-awaited rate hike well into the first quarter of 2016. The S&P BSE Sensex rallied 564 points, or 2.15 per cent, during the day to close at 26,785 while the 50-stock NSE Nifty50 ended 168.4 points, or 2.12 per cent, higher at 8,119.30. The market closed near its one-month high.

MUMBAI: Dalal Street extended its winning streak for the fourth straight week mirroring global strength after the European Central Bank hinted at a stimulus as early as December. Key indices rose to a two-month high on hopes afresh ECB stimulus would drive funds into emerging markets, including India. The gains could spill over to next week as China's central bank cut interest rates after trading hours on Friday.

MUMBAI: Stocks may start trading higher on Monday, led by Reliance Industries on its better-than-expected results, but may struggle to sustain the momentum as some traders could look to book profits following the Nifty's 3.6 per cent gain so far in October. Investors will closely monitor HDFC Bank, Wipro, UltraTech and Hero Moto-Corp, which are scheduled to announce their quarterly earnings this week. The S&P BSE Sensex gained 135 points, or 0.49 per cent, in the week-ended October 16 to settle at 27,214.60. The CNX Nifty advanced 48 points, or 0.59 per cent, to close at 8,238.15.